Form no. I Part-V of the Application it is mentioned that
Paripassu First charge of all movable and immovable assets of the
COMPANY APPEAL
direct, unconditional and general
obligations of the Borrower and rank at least
paripassu as to priority of payment to all other
unsubordinated indebtedness
dated 26thMarch 2010 ("Mortgage Deed") by which a first priority paripassu
charge by way of equitable mortgage was created by theRespondent in
favour
principles mentioned in section 54 of the Act is to be applied
paripassu to section 54F of the Act. In view of the aforesaid judicial
mentioned here shall be treated as Member Banks are having
first PariPassu Charge over the same.
3) First Paripassu charge being Primary Security
Since the provisions of section 25 WT
Act are in paripassu to the provisions of section 263 of IT Act,
therefore, these principles will equally
original as well as bonus shares if the shares rank paripassu. This view taken in Emerald & Co. Ltd 's case (supra) was approved
stock and book debts on 1st
(Please provide details of Paripassu basis amounting to Rs.
guarantee held, the value of 4070.05 Crore in toto
2020 and our decision rendered therein will apply
paripassu the other appeal also.
4. Grounds raised by the Revenue in ITA No. 575/Ahd/2020
2020 and our decision rendered therein will apply
paripassu the other appeal also.
4. Grounds raised by the Revenue in ITA No. 575/Ahd/2020